Bitcoin Suffers As Mid Caps Cryptos Establish Market Dominance With Wide Margin

Bitcoin has now seen declining prices following the El Salvador Bitcoin law. The flash crash that had cleared at least $400 billion off the crypto total market cap has left lingering effects on the price of the digital asset. The price had plunged from $50,000 to $42,000 in less than an hour, leading to an 18% loss in about 30 minutes. While bitcoin has since recovered from its lows from the crash, the asset has not been able to recover to previous levels before the crash. Though the crash had affected most of the market, mid-cap coins have recovered the most from this. The Mid Caps Index had actually crashed along with the rest of the market. But subsequent recovery trends show that it had gained back a good percentage of its value since the crash. Related Reading | MicroStrategy Deepens Its Crypto Bet With Another $240 Million Spent On Bitcoin Mid Caps Index Outperforms In September In the month of September, the Mid Caps Index has grown 21% in September alone. This is a complete deviation from the patterns of other indexes, both the Small Caps and the Large Caps, which have both shown declines in the month of September. The Large Caps index is up only 1% in September. Likewise, keeping in line with the low recoveries, the Small Caps index is down 3% for the month. Mid Caps Index dominates market in September | Source: Arcane Research Bitcoin, which seemed to have held up well during the crash, has made the least s...